FXstreet.com (Barcelona) - The Pound post GDP sell-off which is extending to levels below 1.6400, reaching 1.6365, so far, more than 3000 pips below session high at 1.6690.
If the pair confirms below 1.6400, next support levels lie at 1.6340/60 and below there, 1.6240 (Oct 19 low) and 1.6125 (Sept 30/Oct 8 highs). On the upside, resistance levels lie at 1.6490/00 (Oct 20 high/22 low), and above here, 1.6635 (oct 21 and 22 high).
On the downside, the pair could dip to 1.6320, approaching neckline for the head and shoulders, says Peter Rosentreich, technical analyst at ACM - Advanced Currency Markets: The pair looks to be targeting next downside level at 1.6320. The neckline of our head and shoulders lies at 1.5800, but before there expect support to come in at 1.6221, 1.6127 1.6750.